With NoMa to the east and Bloomingdale to the north, Truxton Circle seems to be a natural choice for development. However, the main retail corridor, North Capitol Street, has been slow to grow.

If North Capitol does blossom one day, this property, which sits right on the main drag, may be a good investment.

The currently vacant property has two 2-bedroom units on the upper floor and a 2,000-square-foot retail space on the street level. A basement offers more space, and the owner tells UrbanTurf that the upper level could be transformed into one four-bedroom apartment.

Once the former tenants moved out several years ago, the seller gutted the space and has been considering redeveloping it. A former owner on the H Street Corridor, he is watching North Capitol Street for the sorts of catalytic developments that prompted the renaissance in the now-hip NE corridor.

This article originally published at http://dc.urbanturf.com/articles/blog/investor_opportunity_live_work_space_in_truxton_circle/6519

3 Comments

justin s said at 4:58 pm on Tuesday January 15, 2013:

...and it’ll remain slow as long as slum-lords like this guy insist that their derelict, vacant buildings are worth more than real estate that’s ready to use in ACTUAL prime areas. This buy would be questionable in even a best-case scenario. Drop the price <800k and see if it gets any interest. For now I hope this guy gets stuck paying the 10% blighted property tax. He’s bringing down my neighborhood.

justin s said at 5:11 pm on Tuesday January 15, 2013:

Worse, a quick record check says it was bought only a couple years ago for $430k and still assesses for about that much. There’s so much violence on that street, at that address. It’s unfortunate that it’s the result of someone who doesn’t live there trying to turn a huge profit.

Timmy said at 7:47 pm on Tuesday January 22, 2013:

And if you buy there you can have neighbors like Justin who promote their neighborhood by complaining about the crime and their neighbors.